Independent survey shows credit unions beat banks in many categories
TORONTO, Sept. 2 /CNW/ - For the fourth year in a row, an independent
survey of thousands of Canadians has shown that credit unions rank first in
overall quality of customer service among all financial institutions.
"Synovate's research has shown that Canadians like dealing with
organizations that reflect their values," said David Phillips, president and
CEO of Credit Union Central of Canada. "The co-operative principles that
credit unions adhere to lead us to focus on meeting peoples' needs and serving
the communities where we live.
"Credit unions have more than five million members across the country and
do an excellent job of providing the service people want," Phillips said. "We
are pleased to win the Best Banking Awards, but not surprised."
The 2008 Synovate Customer Service Index found credit unions ranked ahead
of all banks and other financial institutions in the following categories:
- Overall Customer Service Excellence
- Values My Business
- Financial Planning and Advice
- Branch Service Excellence
Credit unions also tied for first in the following categories:
- Recommend to Friends and Family
- Telephone Banking Excellence
The Synovate Customer Service Index survey had more than 35,000 responses
among a regionally and demographically representative sample of Canadians. The
survey has been conducted annually since 1987.
The 452 credit unions affiliated with Canadian Central have assets of
$106 billion and more than five million members. Credit unions are
provincially regulated financial institutions owned by their member/customers
that provide a full range of financial services.
Synovate, the market research arm of Aegis Group plc, generates consumer
insights that drive competitive marketing solutions. The network provides
clients with cohesive global support and a comprehensive suite of research
solutions. Synovate employs more than 6,000 staff in 63 countries. For more
information on Synovate visit www.synovate.com.
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